Maryland State Retirement & Pension System Trims Stock Position in Sun Life Financial Inc. (NYSE:SLF)

Maryland State Retirement & Pension System reduced its stake in shares of Sun Life Financial Inc. (NYSE:SLF) (TSE:SLF) by 62.1% during the 2nd quarter, Holdings Channel.com reports. The fund owned 33,996 shares of the financial services provider’s stock after selling 55,685 shares during the quarter. Maryland State Retirement & Pension System’s holdings in Sun Life Financial were worth $1,667,000 as of its most recent SEC filing.

Several other large investors also recently bought and sold shares of SLF. Voisard Asset Management Group Inc. acquired a new stake in Sun Life Financial during the 4th quarter worth $26,000. Northwest Financial Advisors purchased a new position in shares of Sun Life Financial during the fourth quarter worth about $29,000. GAMMA Investing LLC grew its holdings in shares of Sun Life Financial by 6,244.4% during the second quarter. GAMMA Investing LLC now owns 571 shares of the financial services provider’s stock worth $28,000 after buying an additional 562 shares during the last quarter. Private Wealth Management Group LLC acquired a new position in Sun Life Financial in the 4th quarter valued at about $41,000. Finally, Ridgewood Investments LLC purchased a new stake in Sun Life Financial during the 2nd quarter valued at approximately $39,000. Institutional investors and hedge funds own 52.26% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Argus raised Sun Life Financial to a “strong-buy” rating in a report on Monday, June 3rd.

Sun Life Financial Trading Up 0.6 %

Shares of NYSE:SLF traded up $0.35 during midday trading on Friday, hitting $54.52. The stock had a trading volume of 332,097 shares, compared to its average volume of 689,197. Sun Life Financial Inc. has a 1 year low of $44.57 and a 1 year high of $55.46. The stock has a 50 day moving average price of $50.13 and a two-hundred day moving average price of $51.43. The company has a market capitalization of $31.49 billion, a PE ratio of 13.94, a P/E/G ratio of 1.40 and a beta of 0.99.

Sun Life Financial Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 27th. Stockholders of record on Wednesday, August 28th will be issued a $0.587 dividend. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $2.35 annualized dividend and a dividend yield of 4.31%. Sun Life Financial’s dividend payout ratio is currently 60.10%.

Sun Life Financial Profile

Sun Life Financial Inc, a financial services company, provides savings, retirement, and pension products worldwide. The company operates in five segments: Asset Management, Canada, U.S., Asia, and Corporate. It offers various insurance products, such as term and permanent life; personal health, which includes prescription drugs, dental, and vision care; critical illness; long-term care; and disability, as well as reinsurance.